In a recent development, the U.S. Securities and Exchange Commission (SEC) has announced a delay in its decisions regarding the approvals for both Franklin Templeton's and Global X's spot bitcoin Exchange-Traded Fund (ETF) applications. The SEC's decision was disclosed in a just-released note, indicating new deadlines extending into early 2024.

The initial deadline for the SEC to address Franklin Templeton's application was today, while Global X's application was set to be reviewed by November 21. However, due to these delays, eager investors will now have to wait until early 2024 for a final decision on both ETF applications.

Industry experts had not anticipated any spot bitcoin ETF approvals to be granted this week, making the SEC's action unsurprising. The price of Bitcoin (BTC) currently stands at $36,450, showing a modest increase for the day.

It should be noted that the news update at 18:45 UTC on November 17 included the addition of the Franklin Templeton information to the ongoing story. No further details regarding the nature of the Franklin Templeton news were provided.

Investors and crypto enthusiasts will continue to closely monitor the SEC's ongoing evaluation process for these spot bitcoin ETF applications, as approval could potentially pave the way for greater crypto accessibility within regulated investment frameworks. Until then, the wait continues for a decision on these high-profile applications.